Journey Strategic Wealth LLC Makes New Investment in Colgate-Palmolive Company $CL

Journey Strategic Wealth LLC purchased a new stake in shares of Colgate-Palmolive Company (NYSE:CL) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,728 shares of the company’s stock, valued at approximately $702,000.

A number of other hedge funds also recently added to or reduced their stakes in CL. Grimes & Company Inc. boosted its stake in Colgate-Palmolive by 1.0% during the 2nd quarter. Grimes & Company Inc. now owns 12,495 shares of the company’s stock valued at $1,136,000 after purchasing an additional 118 shares during the last quarter. RFG Advisory LLC lifted its holdings in shares of Colgate-Palmolive by 1.4% during the second quarter. RFG Advisory LLC now owns 9,227 shares of the company’s stock valued at $839,000 after purchasing an additional 123 shares in the last quarter. Tiemann Investment Advisors LLC lifted its holdings in shares of Colgate-Palmolive by 2.1% during the second quarter. Tiemann Investment Advisors LLC now owns 6,083 shares of the company’s stock valued at $553,000 after purchasing an additional 125 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of Colgate-Palmolive by 2.4% during the second quarter. Redhawk Wealth Advisors Inc. now owns 5,467 shares of the company’s stock valued at $497,000 after buying an additional 129 shares during the last quarter. Finally, Westside Investment Management Inc. increased its holdings in Colgate-Palmolive by 85.5% in the 2nd quarter. Westside Investment Management Inc. now owns 282 shares of the company’s stock worth $26,000 after buying an additional 130 shares in the last quarter. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

Colgate-Palmolive Stock Up 2.7%

CL opened at $80.97 on Friday. The firm’s 50 day simple moving average is $78.73 and its two-hundred day simple moving average is $84.84. The company has a market capitalization of $65.27 billion, a PE ratio of 22.74, a PEG ratio of 4.44 and a beta of 0.35. Colgate-Palmolive Company has a 1-year low of $74.54 and a 1-year high of $100.18. The company has a current ratio of 0.89, a quick ratio of 0.57 and a debt-to-equity ratio of 6.79.

Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Colgate-Palmolive had a net margin of 14.55% and a return on equity of 377.63%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same quarter in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts forecast that Colgate-Palmolive Company will post 3.75 EPS for the current year.

Colgate-Palmolive Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 17th were given a $0.52 dividend. The ex-dividend date was Friday, October 17th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Colgate-Palmolive’s dividend payout ratio is presently 58.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CL shares. Barclays lowered their target price on shares of Colgate-Palmolive from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 4th. Bank of America lowered their price objective on shares of Colgate-Palmolive from $98.00 to $88.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of Colgate-Palmolive from $80.00 to $77.00 and set an “underweight” rating for the company in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Colgate-Palmolive in a research note on Wednesday, October 8th. Finally, Raymond James Financial dropped their price target on Colgate-Palmolive from $105.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 20th. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.87.

About Colgate-Palmolive

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products in the United States and internationally. It operates through two segments: Oral, Personal and Home Care; and Pet Nutrition. The Oral, Personal and Home Care segment offers toothpaste, toothbrushes, mouthwash, bar and liquid hand soaps, shower gels, shampoos, conditioners, deodorants and antiperspirants, skin health products, dishwashing detergents, fabric conditioners, household cleaners, and other related items.